Best U.S. Cities for Senior Financial Security in 2021 - Fox Business

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Seniors looking for financial stability should consider heading to The Villages, Florida, according to a new report. 

Financial technology company SmartAsset recently found the U.S. cities where seniors are the most financially secure. The famed Florida retirement community, The Villages, took the top spot.

However, SmartAsset didn’t just leave it at that. The company also found the cities where seniors are the least financially secure and Florida took the number one spot on that list, too. According to the report, Hialeah, Florida, is where seniors are the least financially secure. 

SmartAsset recently found the U.S. cities where seniors are the most and least financially secure.  (iStock)

For its report, SmartAsset took the 100 U.S. cities with the largest population of people 65 and older and compared them based on seven measurements including the percentage of seniors who own their own homes, the percentage of seniors below the poverty line and the average senior retirement income. 

According to the report, The Villages has an average senior retirement income of $65,995, while the poverty rate for seniors is only 4.4%. Meanwhile, Hialeah has an average senior retirement income of $27,886 and a poverty rate for seniors of 30.2%. 

According to SmartAsset, The Villages (pictured) has an average senior retirement income of $65,995, while the poverty rate for seniors is only 4.4%. (iStock)

To see the rest of the results, here are the U.S. cities where seniors are most and least financially secure, according to SmartAsset. 

Cities where seniors are most financially secure

1. The Villages, Florida

Average Senior Retirement Income: $65,995

Poverty Rate for Seniors: 4.4%

2. Surprise, Arizona

Average Senior Retirement Income: $57,759

Poverty Rate for Seniors: 5.1%

3. Huntsville, Alabama

Average Senior Retirement Income: $56,815

Poverty Rate for Seniors: 7.9%

4. Anchorage, Alaska

Average Senior Retirement Income: $63,044

Poverty Rate for Seniors: 5.5%

5. Lexington, Kentucky

Average Senior Retirement Income: $50,227

Poverty Rate for Seniors: 7.4%

6. Virginia Beach, Virginia

Average Senior Retirement Income: $56,246

Poverty Rate for Seniors: 4.5%

7. Lincoln, Nebraska

Average Senior Retirement Income: $50,154

Poverty Rate for Seniors: 6.4%

8. Chesapeake, Virginia

Average Senior Retirement Income: $53,834

Poverty Rate for Seniors: 4.3%

9. Mesa, Arizona

Average Senior Retirement Income: $49,013

Poverty Rate for Seniors: 8.4%

10. Arlington, Texas

Average Senior Retirement Income: $51,635

Poverty Rate for Seniors: 8.3%

Cities where seniors are least financially secure

1. Hialeah, Florida

Average Senior Retirement Income: $27,886

Poverty Rate for Seniors: 30.2%

2. Miami, Florida

Average Senior Retirement Income: $43,857

Poverty Rate for Seniors: 31.6%

3. New York, New York

Average Senior Retirement Income: $49,054

Poverty Rate for Seniors: 18.2%

4. Boston, Massachusetts

Average Senior Retirement Income: $52,899

Poverty Rate for Seniors: 20.9%

5. Baltimore, Maryland

Average Senior Retirement Income: 41,724

Poverty Rate for Seniors: 16.8%

6. Chicago, Illinois

Average Senior Retirement Income: $49,668

Poverty Rate for Seniors: 15.5%

7. Philadelphia, Pennsylvania

Average Senior Retirement Income: $41,030

Poverty Rate for Seniors:17.6%

8. (tied) New Orleans, Louisiana

Average Senior Retirement Income: $45,312

Poverty Rate for Seniors: 18.1%

8. (tied) Cleveland, Ohio

Average Senior Retirement Income: $37,610

Poverty Rate for Seniors: 20.5%

10. Tampa, Florida

Average Senior Retirement Income: $49,792

Poverty Rate for Seniors: 17.6%